Tompkins Financial Corp Reduces Stake in GE Vernova by 6.9%

Tompkins Financial Corp has reduced its investment in GE Vernova Inc. (NYSE: GEV) by 6.9%, selling 78 shares during the second quarter. The institutional investor now holds a total of 1,045 shares, valued at approximately $553,000 as of the latest reporting period. This move reflects broader trends among institutional investors regarding their stakes in the energy sector.

Several other investment firms have also adjusted their holdings in GE Vernova. EQ Wealth Advisors LLC and IMA Advisory Services Inc. each initiated new stakes in the company during the first quarter, valued at around $27,000. In addition, Orion Capital Management LLC entered a new position worth $30,000 in the same quarter.

Mowery & Schoenfeld Wealth Management LLC significantly increased its holdings by 115.2% in the first quarter, bringing its total to 99 shares valued at $30,000 after acquiring an additional 53 shares. Meanwhile, 1248 Management LLC also bought a new position during the first quarter, valued at $31,000.

Analysts’ Ratings and Stock Performance

Recent evaluations from equity research analysts have highlighted a varied outlook for GE Vernova. Notably, TD Cowen raised its price target from $390.00 to $685.00 while assigning a “buy” rating on July 25. Conversely, Wall Street Zen downgraded the stock from “buy” to “hold” a day later.

Royal Bank of Canada reaffirmed an “outperform” rating for GE Vernova on July 24, while Robert W. Baird also raised its target price from $568.00 to $706.00. UBS Group began coverage with a “buy” rating and a target price of $614.00 on July 7. Currently, four analysts have given the stock a “Strong Buy” rating, twenty have recommended a “Buy,” and nine have assigned a “Hold” rating. According to data from MarketBeat.com, the consensus rating is “Moderate Buy,” with a target price of $592.35.

On Thursday, GE Vernova shares opened at $614.69. Over the past year, the stock has fluctuated between a low of $234.00 and a high of $677.29. The company boasts a market capitalization of $167.33 billion and has a price-to-earnings ratio of 148.12.

Recent Earnings and Dividends

GE Vernova reported its quarterly earnings results on July 23, revealing earnings per share (EPS) of $1.86. This figure surpassed analysts’ expectations of $1.63 by $0.23. The company experienced a net margin of 3.16% and a return on equity of 13.23%. Revenue for the quarter reached $9.11 billion, exceeding estimates of $8.78 billion and marking an 11.1% increase compared to the same period last year.

In addition, GE Vernova declared a quarterly dividend of $0.25, which was paid to shareholders on August 18. Those on the record as of July 21 received this dividend, representing an annualized yield of 0.2%. The company’s dividend payout ratio currently stands at 24.10%.

In related developments, CFO Kenneth Scott Parks sold 3,300 shares of the company on August 26, realizing approximately $2,046,000.00 from the transaction. Following this sale, Parks retained 7,590 shares valued at around $4,705,800, reflecting a reduction of 30.30% in his stake.

About GE Vernova

GE Vernova LLC operates in the energy sector, focusing on electricity generation. The company is structured into three segments: Power, Wind, and Electrification. The Power segment generates and sells electricity from hydro, gas, nuclear, and steam sources. The Wind segment manufactures and sells wind turbine blades, while the Electrification segment offers grid solutions, power conversion, solar, and energy storage solutions.

For ongoing updates regarding GE Vernova and its financial performance, stakeholders may refer to HoldingsChannel.com for the latest 13F filings and insider trading information.